Karl Kachami jailed for at least two years for brazen gold robbery

A bungling bandit who staged one of Victoria’s largest ever gold heists has been jailed for his “brazen” crime.

Karl Kachami was jailed for at least two years for his role in the gold heist.

A “bungling bandit” who watched too many heist movies before robbing a gold business of almost $3 million will spend at least two years behind bars.

Karl Kachami, 48, was jailed on Monday after he admitted he and a longtime friend staged a “brazen” robbery of the Melbourne Gold Company in April.

Kachami, a father-of-three with a multi-million property portfolio, walked into the Collins St offices wearing a surgical mask and brandishing a handgun and stole gold bullion, jewellery and cash worth up to $3 million on the morning of April 27.

Kachami was sentenced to a maximum of four years jail for the elaborate robbery, which is one of the largest in Victorian history.

Almost $350,000 in stolen cash remains missing.

His friend and inside man Daniel Ede, the sole worker at the gold business, played the role of innocent victim as he loaded the loot and safes into Kachami’s toolbox.

Kachami later buried the gold, jewellery and cash at a family property in a town aptly named Dollar, in Victoria’s south Gippsland.

Neighbours to the rural property later reported seeing a fire at the farm in the hours after the robbery as Kachami attempted to destroy evidence of his crime.

Investigators reviewing the CCTV of the robbery also discovered Kachami’s handgun was not loaded and observed Ede signalling to his alleged burglar which safes to target.

County Court Judge Howard Mason said if it were not for Kachami’s ineptitude in picking up Ede’s signals, he could have made off with millions in dollars more in gold.

Judge Mason rejected Kachami’s assertions the heist was a “victimless crime” given Ede was in on the rouse.

Stay-at-home father of three was sentenced to a maximum of four years jail after pleading guilty to aggravated burglary and theft.

“The impact on the (gold) company and its owner has been profound,” Judge Mason said.

Judge Mason said despite there being no “genuine confrontation” during the robbery, the owners’ of the business were legitimate victims.

“The shock, anxiety, damage to reputation and violation of the victims’ sense of trust remains profound,” he said.

“This was a brazen operation, carefully considered with comprehensive preparation designed to disguise your complicity.”

Defence barrister Philip Dunn QC, for Kachami said the “extremely unusual” case, reminiscent of a Hollywood movie.

Mr Dunn said his client had naively thought robbing the business would be a quick-fix to his financial struggles after his property portfolio was hit hard by the global pandemic.

“This whole house of cards he was trying to hold up in a little dream world, perhaps as the bungling bandit he watched in far too many TV shows,” Mr Dunn said.

“He thought it would be easy … well he was pretty naive,” he said.

Judge Mason said it was clear Kachami “simply resorted to serious crime to ameliorate some financial set back” and his moral culpability was high.

The court heard Kachami had no criminal history and his prospects of rehabilitation were good.

He will be eligible for parole in less than two years with time served.

Ede will face a plea hearing in February.

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